On July 18, 2020, Yohan met the BCCore community to discuss the Callisto blockchain’s benefits, Cold Staking, and the origin of the Callisto Network name.
Admin: Hello @yograterol, we are honored to talk to you today, a good new day : D.
To start the AMA interview today, I will block the public conversation, so we can have more control during the AMA session, our translator is @long0609 and I will be the host. Program, control AMA today : D.
@Yohan: Thank you. It’s a pleasure to be here today.
Well, that’s great, to get to the point, can you introduce yourself and your project?
Of course, I’m Yohan Graterol, CEO and Co-Founder of Callisto Network, a decentralized project, and Blockchain dedicated to the auditing and implementing smart contracts through our Blockchain-based on Ethereum.
Until now, we’ve performed +350 security audits to smart contracts like Binance Token and Maker.
Yes, we know the basics, so we’ll go to the main part, this is a BCCore question just for you. OK lets go!
Callisto Network is mainly focused on its own money, what are the benefits when investors hold CLO in the long term?
Good question, we’ve introduced a monetary policy when:
1- We fixed the max amount supply to 6B of CLO.
2- Each 1.5 million of block the block reward is reduced by 40%.
3- We implemented the first cold staking mechanism where people earn 30% of the block reward every 27 days without installing any node or software, only using a smart contract through Trust Wallet (Binance Wallet), Guarda, Coinomi or our wallet.
4- The CLO holder can use the same features of Ethereum paying fewer fees, the example we are finishing the implementation of Tornado Cash in CLO and the cost to use a noncustodial private mixing in CLO is 100x cheaper than the same service in Ethereum mainnet.
So, IMHO long term, the view is magnificent, taking into account the last points.
OKAY, very well, this question will answer your investors: D
So we will move on to the next question.
In recent years mining is no longer a trend because they do not receive profits due to the falling market, high electricity costs …… etc, what makes people should mine CLO?
This is more focused in the last year, it’s part of the market and not only related to Callisto Network, but that effect could also be similar in the mining of other coins where the monetary policy reduces the emission each of the time.
If we analyze CLO, since a year ago, the price is fixed almost at the same level so, a miner moving well his/her reward through cold staking could earn up to 30% more.
We have miners faithful to the project, and We’re happy with it, we hope more miners when ETH goes to POS.
Now, to finish this question, we foresaw that reduction of miners, and for that, we implemented PirlGuard to avoid any 51% attack in our network.
OK this is good, understand, can you explain more about PirlGuard?
PirlGuard is a technology developed by our friends from Pirl Project (pirl.io); Pirl Guard scans each block to determine if the effort (difficulty) is fair, taking into account the last blocks stats, of that way the algorithm could know when a malicious miner mines a new block. (or try)
If a malicious miner mines a block the entire network reject that block and wait for a real block.
With Pirl, we have a good relationship, and we exchange technology between both projects.
OK, that sounds great, sir, so we’ll move on to the next question: D
What is the plan you are focusing on during this period of time? It may reveal some about the plan.
Our focus is on bringing projects from different blockchains to Callisto to create an entire ecosystem around CLO coin.
So, we’ll see in the next months new projects (smart contracts and dApps) integrated well in Callisto Network.
In the next days, we will launch the new website where we will show each new project in CLO as part of an ecosystem, facilitating the use of smart contracts in our network. We don’t look to be the new Ethereum; we want to be a reliable Blockchain for anyone where people find utility and daily use projects.
Okay sound good, next question!
How does CLO staking work? Can you explain in detail about the salient features about it, benefits that other projects do not have
Cold Staking is one of the unique features of Callisto Network, so it has what is said to be special, can you give it in the most detailed way?
Callisto Network works with a dual model POW for security purpose and cold staking as part of the monetary policy.
Each block reward is split into three parts:
60% for miners.
30% for cold staking.
10% for treasury fund.
The 30% for cold taking is shared through a smart contract every 27 days. A holder deposit today in the smart contract and 27 days after could withdraw all the CLO (initial deposit + earnings) or only withdraw earnings and restake the initial deposit.
Right now, exists other cold staking solutions in other projects, but the logic is derived from our cold staking smart contract because it’s open-source and audited.
Right now, +52% of total supply is deposited in the cold staking smart contract.
Okay, our question has ended: D so we will go to part 2 and choose the best questions on twitter that we have chosen.
Are you ready :D
Of course!
The first question is ” Callisto’s team consists of experienced and brilliant individuals. What made them to unite together and work in unison for the fulfillment of it and how does it act as an advantage compared to other projects in terms of brainstorming and guidance?”
It has been hard work; our co-founder is Dexaran, a recognized security smart contract expert dedicated to looking for security breaches in smart contracts in Ethereum (Solidity) and EOS (C++), so we’ve decided to split our functions in the projects.
We make the team with big supporters and brilliant members from the community of that way; we find new ideas for the project.
For us, that way of work is an advantage because there no exist blocking task to develop the project between the Blockchain ecosystem and the security auditing component.
OK, my goodness, we’ll move on to the next one.
Many blockchain projects are on paper only and no product or product has no practical meaning. Please let us know what is Callisto’s currently practical product in use? What are your plans for the product to be better in the future?
We avoid that ”paper only product” effect.
We’ve covered 90% of the whitepaper goals, and the product is working as we say.
Our products are:
– ✅ Security auditing: we’ve performed +350 security audits in two years (~14-15 audits per month).
– ✅ Cold staking: +52% of current supply deposited there.
– ✅ Smart contract platform: We’ve had more than 20% of transactions only dedicated to smart contracts.
– ✅ Smart contracts and dApps ecosystem: We have community projects like a Crypto tipping telegram bot working with CLO Blockchain. There other projects that we will be supportive of a better way to turn those projects in central parts of the Callisto ecosystem.
What is the main difference between cold staking & traditional staking.
The main difference is the more natural way to do it through our smart contract, no install of anything only with a wallet you can start your staking and come back every 27 days to get your earnings. Everything is working in a decentralized way.
How does it work? 30% of the block reward is deposit automatically in the cold staking smart contract, and depending on your deposit amount and time, you will receive a portion of that amount of CLO.
Minimum 1 CLO, you will need an additional 0.2 CLO to cover the tx fees.
APR, ~13% yearly. It could increase or reduce depending on the amount of CLO deposited in the smart contract.
A security and network security is most important. However, I want to ask how do Callisto respond if security issues arise? such as hackers infiltrating, losing user information even assets.
For now, our focus is on the preventive searching for any security issues in smart contracts.
We are not an actor after any security issue (yet); no smart contracts audited for us have been hacked until now.
A better market condition will allow us to invest funds in the expansion of the team to have a better role after any security issue.
OK sound good, we went through part 2, we have the last question “Is CALLISTO have any Coin Burn / BuyBack system or any plans for Token Burn for increasing the value of Tokens & attracts Investors towards CALLISTO for investments?”
Oh, excellent question, yesterday a brilliant CLO supporter brought us an idea to burn CLO from the transaction fee, a % of each fee.
We’re studying different ways to burn CLO without affecting to anyone because how this is a decentralized Blockchain each new CLO has a different owner, Callisto Network Foundation doesn’t own all CLO, so, It’s like to burn real money, we can’t go to any address to burn the CLOs of someone.
OK, finished part 2, we have your own questions before going to part 3: D.
ETH’s success is rooted in ICO projects. So what’s next for CLO to become the second ETH, because there won’t be an ICO market like 2017 and 2018?
Well, I wouldn’t say that the success of Ethereum is rooted only in ICOs.
We don’t look to be the second Ethereum; we seek to be an entire Blockchain ecosystem for users and developers; it’s a hard path to follow; however, we believe that after building our ecosystem, the users will use more CLO direct or indirectly through third-party platforms.
Adding to the answer, we don’t believe in competition in this sector, our goal is that everyone uses crypto of any way for that we love to share and help other projects too.
OK an excellent question, you are very confident, we will move on to the next section, we will open the chat sound and telegram users will ask questions for the project and you will pick out 5 questions you like to answer: D
Are you readyyy ?
Yes!
(When the admin opens the public conversations, a wave of ~2000 questions is sent by the community ?.)
I am sad that only I can choose five questions to answer. My telegram is almost frozen hahaha.
What is the origin of Callisto Network project’s name?
Callisto Is the second-largest moon of Jupiter. I love the science in general, and I wanted to put a name not related to crypto directly so, in 2017 when we talked the first time about the project all people were looking ”the moon” in crypto, so, how a reference to the crypto moon we picked ”Callisto” as the name of the project.
I think that 2020 is an important year for Crypto and blockchain. So, what is your outlook for the future of cryptocurrencies this year and the next few years?
I agree with you, I don’t like to be Nostradamus however I look a good future for crypto in the next years and if we reduce the speculation and work more in blockchains applications this will be the decade for blockchains, study blockchains technology! There will be a lot of job in this industry.
Which wallet are recommended for Cold Staking?
We recommend:
– Trust Wallet (Binance wallet) they have dApp browser to use cold staking there.
– Coinomi.
– Guarda.
– Magnum.
There no preference for one, all wallets supporting CLO are excellent for our coin and others.
With the economic crisis and outbreak due to covid-19, what difficulties does Callisto Network have? What advantages? And what has been done to maintain growth, strengthen investor confidence, and community support?
Well, we should add the bear ? market.
We’ve had difficulty to have the same pace of work because we’ve reduced part of the team.
CLO didn’t receive funding through ICO or anything related that, we works with the treasury funds and it’s not unlimited, we’ve tried to save it a lot.
We’ve applied different methods to keep an organic growth through social networks.
Now global CLO market is valued at more than 1.6 million usd according to CMC. What percentage of the market will be able to capture by CLO in the next 5 years? How strong are you to dominate this market?
With the right path, we could talk of exponential growth; if we reach 100million of market cap in the next 5 years it could be +60x of growth.
100m of market cap is a good target for us. Will be hard, I would love to reach it.
With the emergence of 4.0 technology, the Internet, Internet of Things (IoT), big data, artificial intelligence (AI). What does Callisto do to keep up with the trend or keep up with the trend and apply in Callisto?
We’re studying how we could join to that train. Referring to the last answer to reach a higher market cap will be a hard work but choosing the right path could be reachable of a better way to use/implement emerging technologies to real use cases.
Admin: OK, IT’S TIME, WE MUST SAY A GOOD THANK YOU AND THANK YOU FOR THE TIME TO JOIN US TODAY, WE’LL CREATE 1 ARTICLES RECAP AMA AND ALWAYS UPDATE NEWS FROM YOUR PROJECT.
@Yohan: Great! Again thanks for this opportunity. I must visit Vietnam ?? after ? outbreak.
Admin: haha, I look forward to meeting you, we are always supporting you!
@Yohan: BTW, I really appreciate how the community conducted the AMA, I will choose three more questions and will reward those questions with 5,000 CLO each one.
The reward will be send through our CryptoBot @Crypto_TheBot.
Sign up there to receive your reward.
Choosing now the questions.
Kindly explain more about your $CLO Anonymous Tx Feature scheduled for 20th of July.
After our last hard fork we introduced more features and improvements around Zk Snark (The technology used by ZCash txs) with it we can implement Tornado.cash in CLO of a better way, keeping a cheap transaction mixing through a non custodial smart contract.
The benefit in CLO is that we integrated the official wallet and explorer to support that feature/smart contract, so, you will be able to mix your coins of an anonymous way with our tools.
Did Callisto show up to fix any cryptocurrency space weakness or make new impact and future that cryptocurrency space never have before? How many communities do you have, and which countries are they from?
We’ve performed audits to platforms like McAfee DEX, you could follow our posts, and we deliver thereafter certain time the security reports of the projects audited by us.
We have around 15 communities around the world.+60 countries.
We handle the communities by languages and no by country, we have:
– English
– Chinese
– Russian
– Spanish
– French (x2 with a new African group)
– German
– Arabic
– Vietnamese
– Turkish
I am an ETHICAL HACKER AND EXPERIENCED DEVELOPER. Do you have plans for HACKATHON to check the security of your ecosystem periodically and invite developers to build on Callisto?
We don’t have a near plan for it; however, please write to me, and we could coordinate a plan to make it happens.
We always are looking for auditors too! So, you could be welcome to the project!
End of the AMA
Appendix
Read the Vietnamese version of the AMA on Telegram.
Appendix
Previous Ask Me Anything sessions with Callisto team:
Yohan Graterol’s Ask Me Anything on 08/06/2020.
Dexaran & Yohan Graterol’s AMA with Change Now on 02/03/2020.
Miscellaneous
Passive Income with Crypto: Trust Wallet.
Trust the Blockchain, Audit the Smart Contracts.
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